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Fly News Breaks for May 10, 2017
SSNI
May 10, 2017 | 07:39 EDT
Cowen analyst Jeffrey Osborne noted Silver Spring Networks walked back guidance for 2017 due to the softer Q1 results but said the company remains well positioned to achieve customer wins leading to a compelling setup for 2018. Osborne believes the company's underlying fundamental and strategic positioning are unchanged and said investors underappreciate the impact of some of its smart city wins on its Managed Services/SaaS business. Osborne reiterated his Outperform rating and $17 price target on Silver Spring Network shares.
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